Japan Airlines files for court-led restructuring

LisaTwaronite

TOKYO (MarketWatch) -- Japan Airlines Corp.
jp:9205jals
filed for court-led rehabilitation Tuesday, the Japanese equivalent of a Chapter 11 bankruptcy filing, that will allow the carrier to operate as it restructures. The government-backed Enterprise Turnaround Initiative Corp. of Japan will oversee the carrier's rehabilitation and inject 300 billion yen ($3.3 billion) into JAL so that it can continue its operations. The ETIC and and the the state-backed Development Bank of Japan will provide JAL with a 600 billion-yen credit line. JAL and its units will also get 730 billion yen in debt waivers.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.